Recent Articles

Business Principles

Basic business principles used by almost all business operations from start-up to operational standards.

Tenancy in Partnership


Black’s Law Dictionary defines tenancy as the right to possess or occupy land.   It goes further to state: “The possession of real or personal property by right or title, especially under a conveying instrument such as a deed or [...]

Cash Ratio


One of the liquidity ratios used in business is the cash ratio.  It is a much more effective tool for small business than the traditional current or quick ratio.  Although the cash ratio is more difficult to manipulate in small business, most [...]

Business Barriers


No business is instantaneously successful.   There are multiple obstacles referred to as barriers all owners and managers have to overcome.   There are three primary groups of barriers for every business out there.   They include capital [...]

Bookkeeping – Departmental Accounting (Lesson 71)


One of the goals of accounting is to report to management performance results, specifically financial performance.   Since most businesses sell more than one product or render more than one service, management is interested in understanding the [...]

Bookkeeping – Advanced Skillsets (Lesson 70)


Lessons 1 through 28 covered the fundamentals of bookkeeping.  This includes the six different types of accounts and their relation to the dual entry system.  In addition, debits and credits were explained in how they impact the financial [...]

Bookkeeping – Closing the Books (Lesson 69)


All the lessons to date lead into this one long and arduous task with bookkeeping called ‘Closing the Books’.   Closing of the accounting records is performed at the end of interim and fiscal year periods.   The end of the year [...]

What Startup Owners Can Learn from Expert Traders


When it comes to managing a successful business, expert traders can teach entrepreneurs a thing or two about how to gain from a competitive market. It may not be too obvious, but trading and entrepreneurship have much in common. In fact, some of the [...]

Bookkeeping – Adjusting Journal Entries (Lesson 67)


One of the many tasks for bookkeeper in their daily operations is reconciling accounts including bank accounts, accounts receivable, accounts payable and many others.   Invariably, the balances are off and need adjusting.   To reset or balance [...]
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